European banks’ commodities business is shrinking unabated and their top dealers are heading to better-paid jobs at more lightly-regulated competitors, even though earnings were robust in the first quarter.
The flow of talent from both European and U.S. banks, which began two years ago after a decade of boom, reflects a longer-term fall in profits and tighter regulation of the banking industry, which has given trading houses and hedge funds greater scope to reward risk-taking in commodities………………………………………..Full Article: Source